Board of Mahindra Logistics approves investment of Rs 50 cr in MLL Express Services

The Board of Directors of Mahindra Logistics at their meeting held today i.e. 9 October 2024, has inter alia, approved investment in the equity shares of MLL Express Services (MESPL), wholly-owned subsidiary of the Company, up to an amount not exceeding Rs. 50 crore by way of subscription to rights issue by MESPL of up to 5,00,00,000 equity shares of Rs. 10 each, at par. The full amount of the issue price will be payable on application in cash.

The said investment will not cause any change in the shareholding of the Company in MESPL. MESPL will continue to be a 100% wholly-owned subsidiary of the Company.